Cigna Supplemental Benefits (CSB) has been growing rapidly with Medicare Supplement (MedSupp) annual revenues now exceeding $1.
2b. The Medicare Supplement industry is highly competitive, challenging but also exciting with complications of state specific dynamics, the growing senior population, and other macro factors.
Serving as the pricing team leader for our continued new product launches and focus on innovation, this role brings substantial insights and impacts to support growth and success of CSB.
Responsibilities :
Accountability for executing new business pricing strategy to drive profitable growth in the Medicare Supplement marketplace.
Effectively communicate pricing strategy, positions, and changes to senior leadership and matrix partners.
Drive improvements in actuarial assumption setting, pricing methodology and end to end procedures. Maximize the efficiency to shorten the duration of full pricing cycle for new product launches.
Support senior exchange MedSupp product refresh strategy. Closely monitor the risk profile shifts on the senior exchange and propose strategical updates accordingly.
Take full ownership of new product filing execution. Ensure on time submission of rate filings, objection responses and secure approval of rate filings.
Work with matrix partners to monitor the leading indicators and early performance to evaluate the quality of new business sold.
Be ready to identify the root cause of observed issues and provide timely solutions with clear next steps to follow.
Serve as innovation lead for MedSupp pricing projects. Through partnership with division leadership, identify opportunities to drive differentiation of our product offerings within regulatory constraints.
Maintain and develop a strong pricing team with a staff of two actuarial professionals. Champion the continuous improvement mindset, and knowledge sharing with other teams.
Qualifications :
Bachelors degree in Actuarial Science, Mathematics, Statistics, Finance or related field
6-8+ years of actuarial experience in related field strongly preferred
FSA preferred; qualification to sign rate filings required
MedSupp experience is preferred but not required
Strong analytical and problem solving skills
Strong ability to partner and communicate with variety of non-actuarial audiences
Strong ability to coach and develop talents
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